As money pours into fashion-tech start-ups, at sky high valuations, BoF talks to leading investors to assess the existence of a bubble and understand what separates winning investments from those that are failing.

In Part I, we examined the innovations and infrastructural advances that have improved the historically poor economics of e-commerce and set the stage for a renaissance in online retail. Today, we explore some of new and exciting business models taking shape, the companies exploiting them and the challenges they face. SAN FRANCISCO, United States — For years, e-commerce suffered from capital inefficiencies and complexities that